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This comes at a time when New Delhi is trying to sign trade deals various countries to diversify its exports and soften the blow caused by high US tariffs on Indian goods
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The agreement allows unrestricted student visas, offers post-study work of up to four years, and creates a 5,000-quota entry route for skilled professionals.
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It also plans to launch a portal in the coming months that will allow exporters to report non-tariff barriers and determine if they are WTO-compliant
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The government should take cues from the recent two-day deliberations to formulate the standard procedures for trade talks
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The GCC, which comprises Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Oman and Kuwait, is India’s largest trading partner bloc
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”We share similar challenges in a wide range of fields, from agriculture, climate and water to homeland security, fintech and cyber,” Israeli Economy Minister Orna Barbivai said in a statement.
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According to its report, the hotel industry is expected to clock 60% of pre-COVID revenues in FY22, despite almost four months of impact because of COVID 2.0 and COVID 3.0.
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The report recommends finalising free trade agreements with large markets, extending RoDTEP to all exports, attracting global firms and addressing domestic manufacturing issues to achieve the target.
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India should ensure that bilateral trade deals are in sync with the country’s overall industrial policy
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Assocham has sought reviewing the terms of the Free Trade Agreements (FTAs) and enhancement of the custom duties on import of fruit/vegetable pulps and concentrates to provide support to the Indian fruit based value chain.
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The reinstatement of the rebate on state and central taxes and levies will make garment exporters competitive
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Addressing domestic traders here, he said India also decided to walk out from the Regional Comprehensive Economic Partnership (RCEP) agreement keeping in view the interest of small traders and dairy industry.
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Essar Group today said that India needs to re-evaluate free-trade agreements with many countries, including Japan and Korea, that are hurting domestic steel manufacturers by allowing duty-free imports.
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Britain should prioritise free trade agreements with key Commonwealth nations like India following Brexit, says a new report released today.
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Hit by the rising imports, industry body Indian Primary Copper Producers Association (IPCPA) has approached Cabinet Secretary P K Sinha requesting him to consider reviewing the Free Trade Agreements (FTAs) with Japan and ASEAN countries, among other measures.
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Textile Secretary Rashmi Verma also said the policy contains a package to boost job creation and promotion of made-ups for the home textile sector, on the lines of the one which was extended to the apparel industry.
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Indian automobile industry has approached the government to consider a rupee-based payment mechanism for trading with African nations as companies face a major hurdle in dollar-denominated payout
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India has so far implemented FTAs with countries like Japan, Korea and Asean. Indian industry and exporters have time and again expressed apprehensions that these pacts are benefiting more to the partner countries.
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"We need to review them. We need to renegotiate them," Commerce and Industry Minister Nirmala Sitharaman said here at the CII's Partnership Summit.
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The world's second biggest gold consumer raised the import duty on the metal to 10 percent in 2013 to curb demand but that has boosted smuggling and prompted some importers to use India's FTAs with the Association of Southeast Asian Nations to import 24-carat gold jewellery at just two per cent import duty.
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On industry's demand for anti-dumping duty on copper, Ravi Capoor Joint Secretary Ministry of Commerce and Industry asked the industry to push for safeguard duty as was done in the case of steel.
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"TPP is a trade agreement that will open markets and enable countries like Vietnam a zero-duty access to the US market for textiles while Indian players will have to pay 14-32 percent duty, which will make it uncompetitive. It would have been much better had India too joined TPP," the CII-Wazir Advisors report said.
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In an exclusive interview to CNBC-TV18, Commerce Minister Nirmala Sitharaman, says among most sectors, Indian pharma sector has already made its impact in the global market.
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To help our SMEs and exporter community read the ‘fine print‘ of the Budget, we recently conducted a live chat with Mr. Ajay Sahai, Director General & CEO, Federation of Indian Export Organizations (FIEO).
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"Our trade balance is not really in favour. Simply put, we seem to be importing a lot more than we export," Commerce & Industry Minister Nirmala Sitharaman said.
